M Options History — July 2019

In July 2019, M traded between $20.95 and $23.32. ATM implied volatility averaged 40.1%, placing in the 34.8% IV rank vs the trailing year. The 30-day expected move averaged 12.7%. IV traded above realized volatility by 12.3% (HV 20d: 27.8%). Max pain ranged from $21.50 to $22.00. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 7 of 22 days. Put/call ratio averaged 0.62.

Notable Days

  • 2019-07-09: Highest Volume — 51,992 contracts
  • 2019-07-15: Largest IV spike — 21.7% change
  • 2019-07-25: Highest IV Rank — 59.6%
  • 2019-07-31: Largest Expected Move — 16.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$21.97$20.95$23.32$21.34$22.87
Max Pain$21.98$21.50$22.00$21.50$22.00
ATM IV40.1%31.1%47.6%31.9%46.5%
Expected Move12.7%8.7%16.2%9.1%16.2%
HV 20d27.8%25.2%33.8%33.7%25.9%
HV 60d27.8%26.8%28.7%27.5%28.7%
IV Rank34.8%4.7%59.6%7.4%55.8%
IV Percentile42.5%4.8%69.0%9.1%64.7%
Term Structure1.0%-3.4%13.0%1.3%-2.5%
VWIV44.5%30.2%56.7%31.9%56.7%
Skew 25d3.9%1.8%5.5%3.6%4.8%
Skew 10d7.7%2.7%10.5%7.2%10.5%
Call IV 25d38.1%29.1%45.1%30.7%44.4%
Put IV 25d42.0%31.1%50.6%34.3%49.2%
Bid-Ask Spread %13.522.1054.633.0154.63
Gamma HHI0.200.150.520.160.20
Net GEX3.1M-1.1M11.6M444.6K2.9M
Net DEX3.3M-91.8M85.4M56.2M-46.8M
Net VEX-1.3M-1.4M-1.2M-1.2M-1.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.620.161.370.940.39
Total Volume21,418.2279,74351,99228,17814,456
Total OI359,227.182320,640382,417320,640372,891

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-07-01$21.34$21.5031.9%9.1%33.7%7.4%31.9%3.6%1.3%444.6K56.2M-1.2M0.943.01N/AN/A14,53613,642158,997161,643
2019-07-02$20.95$22.0031.2%8.7%33.8%5.2%30.2%2.6%1.0%-1.1M85.4M-1.2M0.463.10N/AN/A14,1946,552165,255167,910
2019-07-03$21.24$22.0031.8%8.7%33.5%7.1%30.3%2.5%-0.8%-947.3K66.4M-1.2M0.475.22N/AN/A11,6935,520169,469171,413
2019-07-05$21.65$22.0031.1%11.3%32.7%4.7%38.8%2.9%-0.3%435.3K31.5M-1.3M0.352.12N/AN/A25,7388,972174,453171,988
2019-07-08$21.63$22.0031.6%11.4%32.6%6.5%41.0%3.3%8.3%2.3M30.9M-1.3M1.372.10N/AN/A8,02210,975173,857165,740
2019-07-09$21.34$22.0033.8%11.9%26.4%13.7%40.9%2.1%7.4%1.3M48.7M-1.2M0.162.19N/AN/A44,9936,999176,646169,079
2019-07-10$21.16$22.0031.2%12.0%26.1%5.0%41.6%1.8%10.8%1.6M59.0M-1.2M0.389.94N/AN/A12,7394,821191,716171,712
2019-07-11$21.38$22.0032.4%12.1%25.2%9.2%41.6%2.6%12.1%2.1M43.7M-1.3M0.406.77N/AN/A12,4004,930195,895172,827
2019-07-12$21.90$22.0034.3%12.1%26.2%15.4%42.5%2.1%13.0%10.9M-5.5M-1.3M0.5314.65N/AN/A25,98613,886197,709173,762
2019-07-15$21.96$22.0041.7%12.8%25.9%40.1%44.4%4.8%-2.3%3.5M-1.3M-1.3M0.615.72N/AN/A6,0453,698187,845171,009
2019-07-16$22.01$22.0043.7%12.9%25.3%46.7%45.1%5.1%-1.8%4.1M-7.9M-1.3M0.527.50N/AN/A6,7493,510193,073172,690
2019-07-17$21.51$22.0044.8%12.8%26.6%50.3%45.6%5.0%-1.0%3.1M29.7M-1.3M0.877.74N/AN/A8,1337,058198,607173,373
2019-07-18$21.59$22.0045.3%13.0%26.1%51.9%45.5%4.1%-0.9%2.7M27.8M-1.3M0.379.25N/AN/A12,8134,789197,364177,040
2019-07-19$22.09$22.0044.9%13.0%27.1%50.8%45.2%3.6%-1.7%11.6M-35.7M-1.3M0.3212.65N/AN/A19,6236,264204,743177,674
2019-07-22$22.04$22.0046.1%13.8%26.2%54.6%47.6%4.6%-2.8%2.5M-4.7M-1.3M0.7219.19N/AN/A12,6119,110178,703162,847
2019-07-23$22.57$22.0046.4%14.0%25.6%55.7%48.5%4.5%-2.9%3.4M-42.2M-1.4M0.7115.56N/AN/A16,88012,007186,650168,282
2019-07-24$23.32$22.0046.2%14.0%26.0%55.0%49.8%4.3%-3.1%3.8M-91.8M-1.4M0.6011.34N/AN/A12,9757,793193,484173,827
2019-07-25$22.73$22.0047.6%14.5%26.9%59.6%50.8%5.5%-3.4%4.0M-53.2M-1.4M0.7429.65N/AN/A9,1326,728196,210176,643
2019-07-26$22.89$22.0046.2%14.4%26.2%55.0%51.2%5.2%-3.2%4.2M-63.3M-1.4M0.8123.59N/AN/A10,2028,266198,099179,015
2019-07-29$22.69$22.0047.0%15.7%26.5%57.5%55.2%4.7%-2.3%2.9M-35.7M-1.4M0.938.47N/AN/A6,6706,216189,234174,044
2019-07-30$22.46$22.0047.0%15.8%26.5%57.6%55.3%5.1%-2.5%2.3M-18.9M-1.4M0.9743.06N/AN/A6,5236,352191,467178,113
2019-07-31$22.87$22.0046.5%16.2%25.9%55.8%56.7%4.8%-2.5%2.9M-46.8M-1.4M0.3954.63N/AN/A10,3644,092193,089179,802